Buyers who are looking to purchase a home in Scotland or the West Midlands will need to move quickly, after it was revealed that properties in these areas of the UK are so sought after that supply is far outweighed by demand.
What this means, of course, is that houses are on sale for just days or weeks before they are snapped up by a new buyer, and those who can act fastest – for example, people who have managed to free themselves from the chain by selling a house quickly – are best placed to make sure they are at the head of the queue.
Anyone who has the ability to move into a new house at short notice by selling their own home quickly will always be preferable to a seller, because it reduces the chance of hold ups and ensures that everything runs a lot smoother.
In the West Midlands, it was revealed that the supply and demand issue has become so severe that homeowners listing their properties for sale on the likes of Rightmove are finding that they are inundated with requests for viewings within hours, with the Burton Mail reporting that prices are rising as a result of strong demand – another reason to make sure you are buying as soon as possible.
It is a similar story north of the border, according to the Royal Institute of Chartered Surveyors (RICS), which has reported that 32 per cent more agents in Scotland are now reporting that there has been a rise in new buyers in the last year than those reporting that there has been a fall, which shows just how competitive the marketplace has become in the space of just 12 months.
Sarah Speirs, director of RICS Scotland, also went on to say that demand at this level has a direct effect on prices.
While we do expect this to level out as the summer months continue, the lack of supply is a key factor driving the Scottish market
While Andrew Hitchen, of surveyors J&E Shepherd in Stirling, said;
The rise in the number of buyers has not been matched at all with a rise in the number of people selling.